497 1 file001.txt DEFINITIVE MATERIALS Filed Pursuant to Rule 497(e) Registration File No.: 2-82510 June 30, 2004 Supplement [MORGAN STANLEY LOGO OMITTED] SUPPLEMENT DATED JUNE 30, 2004 TO THE PROSPECTUS OF MORGAN STANLEY VARIABLE INVESTMENT SERIES -- CLASS X Dated May 1, 2004 The seventeenth paragraph of the section of the Prospectus titled "PORTFOLIO MANAGEMENT" is hereby replaced by the following: Aggressive Equity Portfolio -- The Portfolio is managed within the U.S. Growth team. Current members of the team include Dennis Lynch, a Managing Director of the Investment Manager, David Cohen, an Executive Director of the Investment Manager, and Sam Chainani, a Vice President of the Investment Manager. PLEASE RETAIN THIS SUPPLEMENT FOR FUTURE REFERENCE.